12,565 Shares in STMicroelectronics (NYSE:STM) Bought by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC purchased a new stake in shares of STMicroelectronics (NYSE:STM) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,565 shares of the semiconductor producer’s stock, valued at approximately $543,000.

A number of other hedge funds also recently bought and sold shares of STM. SFE Investment Counsel lifted its position in shares of STMicroelectronics by 2.8% in the 4th quarter. SFE Investment Counsel now owns 9,551 shares of the semiconductor producer’s stock worth $479,000 after acquiring an additional 258 shares during the period. Blue Trust Inc. increased its holdings in STMicroelectronics by 11.2% in the 4th quarter. Blue Trust Inc. now owns 2,701 shares of the semiconductor producer’s stock valued at $135,000 after buying an additional 272 shares during the period. Gallacher Capital Management LLC raised its stake in shares of STMicroelectronics by 3.8% in the 4th quarter. Gallacher Capital Management LLC now owns 8,905 shares of the semiconductor producer’s stock valued at $446,000 after buying an additional 327 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its holdings in shares of STMicroelectronics by 8.2% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 4,822 shares of the semiconductor producer’s stock worth $209,000 after acquiring an additional 365 shares during the period. Finally, Wealth Alliance boosted its position in shares of STMicroelectronics by 6.7% during the 4th quarter. Wealth Alliance now owns 6,471 shares of the semiconductor producer’s stock valued at $324,000 after acquiring an additional 405 shares in the last quarter. 5.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STM. StockNews.com raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. William Blair reaffirmed a “market perform” rating on shares of STMicroelectronics in a research note on Friday, April 26th. Susquehanna reiterated a “positive” rating and set a $55.00 price objective on shares of STMicroelectronics in a research note on Monday, April 8th. Berenberg Bank upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, The Goldman Sachs Group raised shares of STMicroelectronics from a “sell” rating to a “neutral” rating and upped their target price for the stock from $35.50 to $45.80 in a report on Tuesday, June 18th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, STMicroelectronics presently has an average rating of “Moderate Buy” and a consensus target price of $49.76.

STMicroelectronics Trading Up 1.9 %

STM opened at $41.12 on Friday. STMicroelectronics has a 1-year low of $37.21 and a 1-year high of $55.85. The firm has a 50-day moving average price of $41.53 and a two-hundred day moving average price of $43.75. The stock has a market capitalization of $37.12 billion, a PE ratio of 10.54, a PEG ratio of 3.86 and a beta of 1.59. The company has a current ratio of 3.34, a quick ratio of 2.58 and a debt-to-equity ratio of 0.17.

STMicroelectronics (NYSE:STM) last posted its quarterly earnings data on Thursday, April 25th. The semiconductor producer reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.05). STMicroelectronics had a return on equity of 22.95% and a net margin of 22.30%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the firm earned $1.10 EPS. The business’s revenue for the quarter was down 18.4% on a year-over-year basis. As a group, equities analysts anticipate that STMicroelectronics will post 2.13 earnings per share for the current fiscal year.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.